RareX Secures $2.7 Million Through Strongly Supported Capital Raise

Highlights:

• Successful Capital Raise: RareX Limited (ASX: REE) secured A$2.7 million through a well-supported share placement, priced at A$0.022 per share, at the time of writing.
   
• Strategic Project Funding: Proceeds will be used to advance the Mrima Hill project in Kenya, Cummins Range in Australia, and exploration at Mt Mansbridge and Khaleesi.
   
• Investor Confidence: Strong backing from institutional, sophisticated, and professional investors reflects confidence in RareX's rare earth exploration strategy.

Successful Capital Raise to Fuel Project Advancements

RareX Limited (ASX: REE), a mineral exploration company focused on rare earth elements, has successfully raised A$2.7 million (before costs) through a share placement, according to the company's recent announcement. The capital raise, priced at A$0.022 per share, will see the issuance of approximately 122.7 million new fully paid ordinary shares. At the time of writing, the placement received strong backing from both existing shareholders and new institutional, sophisticated, and professional investors, signaling confidence in RareX's emerging rare earth projects.

The share placement also includes a one-for-two free-attaching option, exercisable at A$0.035 and expiring 36 months from the issue date. These options are expected to be listed, subject to ASX requirements and shareholder approval. RareX's Board members have also committed A$75,000 under the same terms, pending approval at an Extraordinary General Meeting scheduled for July 2025.

Capital to Drive Key Projects Forward

The proceeds from the capital raise are earmarked for several key projects and corporate initiatives aimed at de-risking and advancing RareX's assets. Specifically, the funds will be allocated towards:

• Mrima Hill Project in Kenya: Supporting the procurement process in collaboration with Iluka Resources (ASX: ILU).
• Cummins Range Project in Australia: Focused on gallium definition, heritage agreements, and monetisation studies.
• Exploration Drilling: Initiatives at Mt Mansbridge and Khaleesi, targeting high-value rare earths, gallium, and niobium.
• General Working Capital: Ensuring smooth project execution and meeting corporate costs.

Market Confidence and Future Outlook

Commenting on the successful raise, RareX Chairman Jeremy Robinson expressed optimism, noting strong shareholder support as the company advances its efforts both in Kenya and Australia. Settlement of the share placement is scheduled for May 21, 2025, with the new shares set to rank equally with existing shares upon issuance.

The successful capital raise not only strengthens RareX's financial position but also accelerates its strategic exploration and development plans, positioning it well for future growth in the rare earths sector.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com